GBP/USD: British Pound fell below 1.29190 support following a decline in December manufacturing data
What's going on with the GBP vs USD?
GBP/USD: The Pound has fallen below 1.29190 support following the release of December manufacturing data plus the poor GDP results. The Pound could continue further down to 1.28725 and 1.28428 support if it fails to hold at its 500 EMA in the four hours price chart at1.28980.
My thoughts on what may happen
GBP/USD: The Pound needs to break and hold above 1.29190 to head back to the upside. The pair could continue down to 1.28725 and 1.28428 if it fails to hold above its 500 EMA in the four hours price chart at 1.28980
Support: 1.28980,1.28725, 1.28428, and 1.28044
Resistance:1.29910, 1.29818, 1.30888, and 1.30245
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Chart 2: The short-term view of the GBP/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points